Lalapalooza Extravaganza is a not$-$for$-$profit organization. Lalapalooza Extravaganza took over the county

Lalapalooza, with the provision that the county would provide for its operations. The county provides $$7,000$

per month. The rest of the Lalapalooza's revenue comes from admission charges, which are as follows: $$20$ for a

family admission $($the average family has four people$),$ $$3$ per child in school groups, $$5$ per child ticket when not

in a school group and $$8$ per adult ticket.

Each ticket entitles the visitor to ride on the "Train Around the Lalapalooza." However, only one$-$third of the

visitors actually ride the train.

The Lalapalooza expects the following average number of visitors per month:

The Lalapalooza has the following monthly expense in four general areas:

Determine the operating budget per average month. Show revenues and expenses by line item

and show the expected profit or loss.

Create a budget by quarter by taking the average monthly budget and applying the following

admission percents by quarter. Remember to allocate admissions and any admission driven

expenses.

Assume the beginning cash balance at Jan $1$ will be $$2,000.$ Will Lalapalooza Extravaganza need to borrow

money? If so in what quarter?

Lalapalooza Extravaganza Budget

County revenue

TOTAL Monthly Revenue

Expenses

Lalapalooza & Admin Staff

Animal Food & Care

Train rides

Maintenance

TOTAL Monthly Expense

Excess Revenue over Expense

Budget by Quarter

Total Revenue

EXPENSES

Lalapalooza & Admin Staff

Animal Food & Care

Train rides

Maintenance

Total Expense

Excess Revenue over

Expense

Cash Balance

Cash Balance